At just 35, Nigerian-American business executive and restaurateur Damola Adamolekun is reshaping the future of casual dining—and rewriting the playbook for modern leadership. From leading P.F. Chang’s through a pandemic to taking the reins at Red Lobster amid a historic bankruptcy, Adamolekun’s journey is a masterclass in strategy, grit, and visionary decision-making.
From Nigeria to the Boardroom
Born in Nigeria to Yoruba parents, Adamolekun’s story is global in scope and ambitious in scale. He spent parts of his childhood in Zimbabwe and the Netherlands before moving to Springfield, Illinois, at age nine. He attended high school in Columbia, Maryland, before going on to earn a Bachelor of Arts in Economics and Political Science from Brown University, where he was President of the student investment group and a championship-winning football player. He later earned an MBA from Harvard Business School.
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By age 31, Adamolekun had already become the first Black CEO of P.F. Chang’s, one of America’s top Asian-American fusion restaurant chains. Under his leadership, P.F. Chang’s weathered the COVID-19 storm and returned to profitability with over $1 billion in annual revenues. He launched the innovative P.F. Chang’s To Go concept, which expanded the brand’s digital and delivery reach nationwide.
His success at P.F. Chang’s came after a strategic proposal he made at Paulson & Co.—the hedge fund where he worked as a managing partner. He convinced the firm, founded by billionaire investor John Paulson, to acquire the chain in 2019. Following the acquisition, Adamolekun rose quickly to become Chief Strategy Officer and then CEO.
Now Serving: A Comeback for Red Lobster
In 2024, Red Lobster, the once-revered seafood giant, filed for bankruptcy with over $1 billion in debt. It was acquired by Fortress Investment Group, which appointed Adamolekun as CEO—the youngest in the company’s history. For Adamolekun, the move was personal. “Red Lobster was the first really successful casual dining chain in America at scale,” he said, adding that its legacy motivated him to lead its revival.
He took charge of the brand during its darkest hour—when internet memes ridiculed its “Endless Shrimp” promotion and operational issues made headlines. But Adamolekun didn’t flinch. He embraced the public scrutiny, cleaned house at the executive level, and launched a bold strategy to bring Red Lobster back to relevance.
Five Business Lessons from Damola Adamolekun’s Leadership
Whether you’re a startup founder or scaling an enterprise, Adamolekun’s leadership at Red Lobster and P.F. Chang’s delivers powerful takeaways:
1. Leadership Requires Strategy in Challenging Times
Red Lobster’s struggles were no secret—declining traffic, supply chain problems, and shifting consumer behavior. Adamolekun tackled them head-on with structural reforms.
2. Ownership is a Mindset
Though he was not always the majority stakeholder, Adamolekun led like one. His decisions were long-term, legacy-focused—not short-term metrics-driven.
3. Strategy Over Emotion
From closing underperforming stores to reshuffling executive teams, Adamolekun made hard calls quickly and decisively—guided by data, not emotion.
4. Reinvention Honors, Not Rejects, Legacy
Red Lobster wasn’t broken—it was outdated. Instead of scrapping the brand, Adamolekun chose to evolve it.
5. Control the Narrative—Even in Crisis
In the age of social media meltdowns, Adamolekun stayed visible. He addressed mistakes, took accountability, and communicated a clear plan.
A CEO Built for This Moment
Beyond the boardroom, Adamolekun maintains the same discipline that defines his executive leadership. He starts each day at 4 a.m. with an eight-mile run to sustain what he describes as a “calm, relaxed, autonomous nervous system.” He is the founder and president of Cedar Lane Investments and has served on the boards of Inday, NuLeaf, International Tower Hill Mines (NYSE: THM), and the National Restaurant Association.
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He has been profiled in Business Insider, CNBC, Bloomberg News, Fox Business, the Harvard Business Review, and New York Business Journal.
His passion for business began early. “I always found business interesting, even when I was young,” he says. “It captivated me intellectually. I started working when I was in high school and invested everything I made. I opened my first stock portfolio when I was 16.”
Today, Adamolekun lives in Scottsdale, Arizona—still investing, still running, and still redefining what young, visionary leadership can look like in corporate America.
